Goal #3
Create an economic development plan for Hampton Road, Belt Line Road at Cockrell Hill, and general citywide commercial nodes
1. Develop a transition plan to go from Type A to Type B Economic Development Corporation | City Manager's Office | Start FY 2021 Q1 | Complete FY 2021 Q2
2. Develop a land-use plan and market study for Belt Line Road and general citywide commercial nodes | Development Services | Start FY 2021 Q2 | Complete FY 2021 Q4
3. Create an economic development policy for Hampton Road to include a strategy for marketing City-owned land and an incentive policy to encourage targeted economic development in the area| City Manager's Office | Start FY 2021 Q3 | Complete FY 2022 Q1
4. Develop a city-wide economic development policy to include an incentive policy that encourages retail and restaurant development for Belt Line Road and general City-wide commercial nodes | City Manager's Office |Start FY 2022 Q1 | Complete FY 2022 Q3
The City's redevelopment plan for a land use and market study on Hampton Road continues to progress. As of the end of September, the evaluation committee for the commercial node study is finalizing a draft scope of work and contract to be introduced for City Council consideration in November 2021. This item is behind schedule due to staff turnover in the Development Services Department. The completion timeline for the commercial node study once approved is approximately four months. Staff revised and extended the scope of the areas to be included in the study. The corresponding proposal is expected to be received in October 2021. Staff will present to City Council for award of contract in November 2021. Once awarded, the time for completion is estimated at four (4) months. Following completion of the Hampton Road Redevelopment Plan and the Commercial Node Study, economic development policies will be developed for City Council consideration. This item will continue into the FY 2022 Business Plan and can continue to be tracked in that report.
The City's Transition Plan to establish a new Type B Economic Development Corporation that can use sales tax dollars for quality-of-life-type economic development projects is complete. The new DeSoto Development Corporation Board has been meeting regularly since March 2021. A new Economic Development Director, Matt Carlson, has been hired to begin working collaboratively with the DeSoto Development Corporation and the City of DeSoto to bring development to the City. The current land use and market study on Hampton Road continues to progress, with development of an economic development policy expected to occur in Q4. Responses from qualified firms to a City-issued Request for Qualifications are being reviewed for recommendation to the City Council. The selected vendor will perform a land use and market analysis to better identify and prepare commercial areas in DeSoto for development. For those new commercial areas identified through this study, economic development policy development is expected to begin in October.